Vingroup Corporation has established a new company to help speed development of electric vehicle (EV) charging infrastructure in Vietnam.

Vingroup, which owns automaker VinFast, said it spun off the EV charging operations of its automaker subsidiary to form V-Green Global Charging Station Development (V-Green).

This allowed VinFast to focus on expanding worldwide vehicle sales while V-Green focused independently solely on infrastructure investment.

VinGroup chairman Pham Nhat Vuong had taken a 90% stake in V-Green which aims to establish a “comprehensive” charging network in Vietnam available to owners of all auto brands.

V-Green said it would triple charging infrastructure investment by VND10trn (US$400m) in the next two years, compared to VinFast plans, and build new charging stations across Vietnam while upgrading and completing construction of existing facilities.